12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Overview of Estate Planning in Brooklyn, NY

Overview of Estate Planning in Brooklyn, NY


Death is not a tragedy to the one who dies; to have wasted the life before that death, that is the tragedy.
 
- Orson Scott Card


Estate planning is the process of getting your affairs in order so that if you pass away unexpectedly, things will be much easier for your loved ones.

Estate Planning doesn't have to be hard or expensive or intimidating. Just a few simple steps: Catalog what you own, make a will and create a few legal documents (with the help of 12Law.com) and review the beneficiaries on your retirement accounts. For most Americans, there's no need to worry about estate taxes or fancy trusts.

Do it for your family. You will feel so much better knowing that you've taken care of them.

• Write a will. State in this document the properties you want your beneficiaries to inherit. You can also indicate the guardian for your young children if something happens to you and your partner.

• Select a guardian for your children. Children who will inherit any money or property from you should be designated with an adult guardian to oversee their affairs.

• Update beneficiaries on retirement accounts. You can transfer to your beneficiaries your stocks, bonds and brokerage accounts if you were able to register them. If you have a bank account and retirement plans, naming a beneficiary to these documents can automatically make these accounts "payable on death". This can avoid the probate process.

• Sign up for life insurance. It would be a good investment to get a life insurance if you owe significant amount of estate tax or debts, have young children, and own a house.

• Determine of you will owe estate taxes. Estates taxes will be impose by the government upon your death if your taxable estate is more than the inclusive limits set by law.


• Determine if a Living Trust is right for you. Property placed in the living trust can be distributed to their designated beneficiaries without undergoing probate which can be expensive and time consuming.

• Define your health care directives . You also need to plan out for your medical care by doing a medical declaration or Living Will that can indicate the treatments you want or do not want and Power of Attorney for health care that can assign a trusted person who will make medical decisions for you if you are unable to make it yourself.

• Create a financial power of attorney . If you become incapacitated, handling your affairs can be a problem but not if you have a durable power of attorney for finances. A trusted person you have chosen yourself will be handling your finances and property if that time comes. This trusted person is called an agent or attorney-in-fact.


• Provide for funeral expenses. Payable-on-death bank account can be more reliable and easier to set-up as compared a funeral prepayment plan. This will cover your funeral and other related expenses.

• Make the final arrangements. This document will indicate your wishes for organ and body donations and also the disposition of your body through burial or cremation.

• Define the Succession Plan for your business. Make plans if you own a business by having a successor. If you have a partner in business, have a buyout agreement.

• File all estate planning documents. The person you choose in your will to administer your properties should be given access to your important documents like:

1. will

2. trusts

3. information on bank accounts, mutual funds, and safe deposit boxes

4. information on retirement plans, 401(k) accounts, or IRAs

5. insurance policies

6. real estate deeds

7. certificates for stocks, bonds, annuities

8. Information on debts: credit cards, mortgages and loans, utilities, and unpaid taxes

9. Information on funeral prepayment plans, and any final arrangements instructions you have made.

 
Personalize & Print a Free NY Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free NY Living Trust Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Brooklyn, NY
Allstate Corp Svc
1222 Avenue M
Brooklyn, NY 11230
(718) 382-9990
Paralegals, Legal Document Assistance
Aidala & Bertuna Law Office Pc
8118 13th Ave
Brooklyn, NY 11228
(718) 238-9898
Personal Injury Law Attorneys, Attorneys, Criminal Law Attorneys
Aidala Arthur
8118 13th Ave Ste 1
Brooklyn, NY 11228
(718) 238-9898
Estate Planning Attorneys, Attorneys, Criminal Law Attorneys, Accident & Property Damage Attorneys,
Henry Caruso Law Office
8225 3rd Ave
Brooklyn, NY 11209
(718) 759-9890
General Practice Attorneys, Attorneys
Pigott Gerald
266 Broadway
Brooklyn, NY 11211
(718) 782-9888
General Practice Attorneys, Attorneys, Legal Service Plans
Baratta Anthony
411 Court St
Brooklyn, NY 11231
(718) 802-9858
General Practice Attorneys, Attorneys
Race Robert R
306 Atlantic Ave
Brooklyn, NY 11201
(718) 596-9855
Attorneys, Legal Service Plans
Pasternack Tilker Ziegler
111 Livingston St # 4
Brooklyn, NY 11201
(718) 222-9800
Attorneys Referral & Information Service, Attorneys
Jeffrey N. Markowicz
703 Flatbush Ave Suite 300
Brooklyn, NY 11225
(718) 578-9792
Divorce Attorneys
Warren Michael W
580 Washington Ave
Brooklyn, NY 11238
(718) 230-9790
General Practice Attorneys, Attorneys
Tatiana Pahman Law Offices
2083 E 19th St
Brooklyn, NY 11229
(718) 998-9789
General Practice Attorneys, Attorneys
Albert Gurevich
2544 E 22nd St
Brooklyn, NY 11235
(718) 509-9774
Business Litigation Attorneys, Construction Law Attorneys, Corporation & Partnership Law Attorneys,
Donald Mastrodomenico Atty.
26 Court St
Brooklyn, NY 11201
(718) 694-9770
General Practice Attorneys, Attorneys, Legal Service Plans
The Hinds Firm
546 E 42nd St
Brooklyn, NY 11203
(718) 473-9767
Attorneys, Personal Injury Law Attorneys, Landlord & Tenant Attorneys, Criminal Law Attorneys, Immig
Charles D. Soule, PLLC
68 Jay Street, Suite 201
Brooklyn, NY 11201
(800) 707-9750
Corporation & Partnership Law Attorneys, Attorneys, Legal Service Plans, Business Law Attorneys
Levinsky Anatta
6924 Bay Pkwy
Brooklyn, NY 11204
(718) 837-9700
Attorneys, Legal Service Plans
Michael L. Walker, Esq., PLLC
9052 Fort Hamilton Parkway, Second Floor Suite
Brooklyn, NY 11209
(718) 680-9700
Bankruptcy Law Attorneys, Attorneys, Real Estate Attorneys
Lazarowitz & Manganillo LLP
2004 Ralph Ave
Brooklyn, NY 11234
(718) 531-9700
Attorneys, Legal Service Plans
Yevgeny Levin - Brooklyn
2625 E. 16th Street, 2nd Floor
Brooklyn, NY 11235
(718) 989-9629
Corporation & Partnership Law Attorneys, Business Law Attorneys, Real Estate Attorneys, Contract Law
Joseph Y. Balisok LL.M. (Tax) P.C.
1650 Eastern Parkway, Suite 303
Brooklyn, NY 11233
(718) 928-9607
Bankruptcy Law Attorneys, Business Bankruptcy Law Attorneys, Attorneys
Zelenitz, Shapiro & D'Agostino, P.C.
26 Court St
Brooklyn, NY 11242
(718) 725-9601
Divorce Attorneys
Smith Robin C
25 8th Ave # B
Brooklyn, NY 11217
(718) 403-9599
Attorneys, Criminal Law Attorneys, Family Law Attorneys, Legal Service Plans
Donald Zuniga
147 Prince St Ste 16
Brooklyn, NY 11201
(212) 361-9558
Divorce Attorneys
Wims David C
1430 Pitkin Ave
Brooklyn, NY 11233
(646) 393-9550
Attorneys, General Practice Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US